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February Market Update for Las Vegas

Sales of single family homes increased 11.7 percent in February for a total number of home sales of 1,098. The median home price was $246,500. 41.5 percent of all sales were short sales (houses which sell for less than the balanced owed on the mortgage) and bank owned properties. There were 22,497 homes available for sale.

For buyers, inventories reflect bargains galore. Sellers‘ homes, priced correctly will sell, with the majority of sales by individual rather than institutional owners.

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